Real Estate Marketing & Beyond
Computer vision startup Modsy is looking to expand after raising $37 million in a Series C round of funding led by TCV. The round brings its total funding to over $70 million.
For those who aren’t familiar with Modsy, it’s essentially a kind of virtual design app that combines its computer vision tech with human designer’s expertise to help consumers do up their homes with swanky new furnishings.
The way it works is pretty simple. Download the Modsy app and then snap a photo of the room, or rooms, you want to redesign. Modsy then uses those photos to create a 3D model of the room.
Once that’s done, users can work with Modsy’s designers to explore different looks and themes for the room they want to redesign. With Modsy’s computer vision software, it’s possible to drop in furniture from the startup’s partners, which includes firms like Crate&Barrel, Pottery Barn, West Elm, in the 3D room model and see how it looks from all kinds of different angles.
There are various packages on offer – the most basic, $69 package, just allows customers to see various possible designs and request revisions. The $149 package meanwhile, allows customers to chat with Modsy’s designers and try all manner of different styles. For $349, users will get the same experience for three rooms instead of one.
Modsy reckons that its application and service offers big savings, and the company not only earns money from the packages it sells, but also from the furniture its customers buy once their satisfied with their rooms’ new look.
Modsy has also branched out into designing and manufacturing its own furniture, including sofas and chairs, which are available to buy through the app. As such, it’s not hard to see Modsy as a kind of ‘smart furniture’ company as much as it is a computer vision startup.
“I founded Modsy on the premise that in the future we would all be shopping from a personalized catalog-like experience within a virtual version of our real homes,” CEO Shanna Tellerman said in a statement. “This new round of funding will bring us even closer to this reality.”
